Roughly 75 million Americans will receive a 2.8% boost to their income in 2026, thanks to the upcoming cost-of-living adjustment for Social Security benefits and Supplemental Security Income (SSI) payments. But other changes afoot to the program will affect people who are still working, without a glint of retirement yet in their eyes.

The annual COLA update, as it’s known, is often the main change to Social Security we hear about because it’s a useful gauge to see how your pay increase compares. But because workers pay into the system, some of the annual changes also affect your paycheck.

Here’s what to know.

As part of its annual inflation-related update to the program, the Social Security Administration also adjusts the taxable maximum for wages—the primary source of funding for this program. 

While these changes affect high earners, it could mean that you’ll see some more money taken from your paycheck in taxes. Employees are taxed 6.2% of their earnings up to a certain limit for Social........

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